Assume that Mr. Romeo Vazquez, a resident citizen of the Philippines, derived income from sources within and outside the Philippines. The information regrading his taxable income and income taxes paid for 2020 are as follows:

	Income	Tax paid
Philippines	220,000	15,000
Japan	200,000	70,000
USA	500,000	175,000
Hong Kong	(120,000)	0

The income tax paid in the Philippines is only a partial payment as reflected in the quarterly income tax. The taxpayer choose a tax credit for the income taxes paid to foreign countries.